Thursday, September 8, 2016

Every day we hear and read about Millennials, and increasingly, their successors, Gen Z. We get it! These two populations are changing the food landscape and we, the dairy industry, need to change with it.

But let’s not forget the Baby Boomers. Many of them have dollars and want to spend them on defying the aging process, inside and out. Even those who are retired and living on fixed incomes still want to live long and live well.

According to a September 2015 report by the U.S. Bureau of Labor, a majority of consumer spending is done by people more than 50 years old. Yet, something has gone awry, as the 50-plus demographic is the target for only 10% of marketing activity. On the other hand, marketers spend five times as much money marketing to Millennials, the obsession of most every marketer on the planet, according to the Natural Marketing Institute.

“Whenever I ask marketers why they’re so obsessed with Millennials, I get the same answer: because they represent the future of business,” says Peter Hubbell, CEO, BoomAgers. “The last time I looked, the future wasn’t here yet. Smart marketers are embracing the demographic realities of today’s market and are executing bridging strategies that retain an emphasis on the Boomer audience until Millennials eventually appear as earnest consumers.”

I’m over the fact that almost no one bats an eyelash at my generation—the X’ers—even though we are getting up there in age and are seeking out secrets to longevity and vitality, much like the Baby Boomers. But here’s something marketers need to realize: Gen X’ers and Boomers uphold traditions, such as New Year’s resolutions. Now’s the time for dairy-based beverage manufacturers to get creative and offer these consumers the health and wellness products they want.

According to new insights from The International Food Information Council (IFIC) Foundation’s 2016 Food and Health Survey, perceptions of the healthfulness of certain foods vary dramatically between generations, especially Boomers versus Millennials. Boomers are more likely than Millennials to rate whole grains (80% vs. 70%), protein from plant sources (75% vs. 63%) and omega-3 fatty acids (71% vs. 59%) as healthy.

Boomers are also looking for different health benefits from their food compared to other generations, particularly Millennials. Boomers are more likely than Millennials to be interested in health benefits associated with foods such as weight management, cardiovascular health and digestive health. Millennials are more likely to be interested in benefits such as mental health, muscle health and immunity associated with foods.

These findings confirm what most of us in the food industry have known for a long time: diet is not a one size fits all. This is especially apparent across the generations.

Take note, Boomers have a distinct definition of a healthy-eating style compared to other generations. Boomers (32%) are more likely than the general population (22%) to define a healthy-eating style by moderation/serving size and portions. Additionally, Boomers (30%) are more likely than Millennials (17%) to define a healthy-eating style as including certain foods they define as healthy. This includes dairy!

And don’t even think twice about the IFIC stat showing that Boomers appreciate protein from plant sources. They simply appreciate and welcome extra protein. After all, research shows that historically there’s a decline with intake of all types of protein with aging. This is due to decreased appetite or digestive and metabolic change. Boomers (and X’ers) are looking for innovative and delicious ways to get more protein in the diet. Why? Because lack of high-quality protein—protein that contains all the essential amino acids—is a factor contributing to loss of muscle mass and in turn a decline in health and loss of strength and physical function. Consuming a moderate amount of high-quality protein at each meal can also be a useful strategy to help maintain muscle mass and to help protect against the debilitating effects of sarcopenia, the age-related progressive loss of muscle mass and function that can begin as early as age 40.

Take note: ignoring Baby Boomers (and those of us just a little younger) could manifest itself in missed opportunities. Here’s a dairy in Singapore that gets it! Magnolia, an almost 80-year old dairy, markets fresh milk products that speak to the needs of the older population. Singapore reigns as the country with the third oldest life expectancy: 83.1 years; for women, Singapore ranks second at 86.1 years; for men, the country ranks 10 at 80 years.

The dairy’s newest product is Oats Lo-Fat Hi-Cal Milk, which is based on fresh milk and oats, with less than half the fat but 67% more calcium than regular milk. There’s also Omega Lo-Fat Hi-Cal Milk, which is fresh milk enhanced with omega-3 DHA, vitamin D and calcium.

Dairy-based beverages, with a boost of omega-3 fatty acids, vitamin D, oat beta-glucan and other nutrients, can help mitigate the age-related loss of muscle faced by today’s senior population. Check out this VIDEO.